The Economic Times The Economic Times

The Economic Times Central spending gives a boost to liquidity, brings overnight rate 10 bps below repo

Following recent elections, increased government spending has injected liquidity into India's banking system, resulting in lower overnight borrowing rates, Treasury Bill yields, and short-term financing costs for Indian companies. Despite these developments, the Reserve Bank of India (RBI) appears cautious about reducing policy rates. The overnight weighted average call rate (WACR), which hovered above the RBI's repo rate of 6.50% in May and June, has averaged 6.39% in July, indicating a surplus liquidity situation.

The Economic Times CBIC issues fresh norm for recovery of GST dues

The CBIC issues a new guideline for taxpayers to address outstanding dues until the GSTAT is functional. Payments can be made via electronic liability register with an undertaking to avoid recovery proceedings.

The Economic Times Tax authorities bowl a GST googly to AIFs

About a dozen such alternative investment funds (AIFs) have recently received notices, with the revenue department questioning why their schemes, housing the fund pools, are not registered under GST. These funds raise huge money every year and bankroll thousands of startups and listed companies.

The Economic Times Retail Inflation snaps five-month record of moderation, increases to 5.08% in June

The Consumer Food Price Index (CFPI), which measures changes in food prices, shows a significant increase with a combined inflation rate of 9.36%. The rural CFPI is at 9.15%, while the urban CFPI is slightly higher at 9.55%.

The Economic Times Rajkamal Synthetics appoints Arihant Jain as CFO

Jain has successfully established and grown multiple ventures across diverse industries, said the textile company in its statement to BSE.

The Economic Times Tupperware Brands CFO Mariela Matute to exit amid financial struggles

In March, the company issued a warning regarding its uncertain future, highlighting a liquidity crunch and questioning its ability to continue as a going concern. The decline in demand for Tupperware's products has severely impacted its financial stability.

The Economic Times Estée Lauder’s CFO Tracey T. Travis to retire

The company stated in its press release that the successor for this role has been decided and will be announced in the coming weeks.

The Economic Times Bombay Dyeing CFO Vinod Jain steps down

He tendered his resignation on April 13, 2024, as stated in the BSE announcement. Prior to Bombay Dyeing Manufacturing Company, he has served as the CFO of Essar Power, and Vadinar Oil Terminal Limited.

The Economic Times Adani Ports to raise investment to ₹10,000 crore for new transshipment terminal

The investment in the first-of-its-kind Vizhinjam port in the state of Kerala is part of the second phase of the project that is expected to finish by 2028, said people familiar with the Adani Group’s plans who did not want to be identified as the details are not announced.

The Economic Times UP's sops for hybrid vehicles irk EV companies, add to industry's June sob story

Sales of electric cars in June plunged 13.5% from the year earlier, having suffered a marginal drop in May, triggering fears that the Indian market may be following global trends. After last year's euphoria, domestic sales slumped to 20% growth in the January-June period to 46,845 units. That's down from a 135% surge in the same period last year, prompting Tata Motors and others to recalibrate expectations.

The Economic Times Union Budget 2024: Let's take India forward

The great news is the Indian economy is set to double in the next 5-7 years. But the question is do we have an infrastructure and ecosystem of similar size? The Budget should provide such guidance. The government's vision of Viksit Bharat has rebranded India's identity and foreign investors don't want to stay away.

The Economic Times CPI inflation continues to be close to 5%... it's too early to talk on rate cut: Shaktikanta Das

"The overall economic environment globally and in India is so uncertain. The second thing is that CPI (consumer price index) headline inflation continues to be close to 5%, and I think it is too early to talk about an interest rate cut," the Governor said in an interview to a television station.

The Economic Times Economists seek lower import tariffs at pre-budget meeting with PM Modi

In a pre-budget meeting in New Delhi, Prime Minister Narendra Modi met with economists who recommended reducing import tariffs on intermediate goods, lowering interest rates, signing more free trade deals, and cutting logistics costs to boost exports. They advocated for agricultural support for farmer producer organizations (FPOs) and emphasized capital expenditure for growth, cautioning about rural inflation.

The Economic Times IRDAI puts Care Health Insurance on notice over ESOPs to Saluja

India's insurance regulator, IRDAI, has issued a show cause notice to Care Health Insurance, a subsidiary of Religare Enterprises, regarding the grant of stock options to Rashmi Saluja, who serves as the chairperson of Religare. The notice alleges that Care Health Insurance violated IRDAI directions by issuing stock options to Saluja despite prior refusal in May 2022. Saluja, an executive chairperson at Religare, was granted these options as an employee, though she is a non-executive director at Care.

The Economic Times Jio Financial Services gets RBI nod to become core investment company

The Reserve Bank of India on Thursday evening approved Jio Financial's conversion from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC), the company said in a filing.